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China's Tudou to raise $174 mln in US IPO

08-17-2011 15:03 BJT

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Chinese online video company Tudou Holdings has priced its initial public offering at 29 U.S. dollars a share. That's at the midpoint of the expected range, and is expected to raise around 174 million U.S. dollars.

That's despite lagging investor sentiment towards U.S-listed Chinese stocks and a market glut suggesting the listing could be difficult. The company sold six million American depositary shares, and is expected to trade Wednesday on the Nasdaq.

Tudou's IPO comes as the company faces increasingly fierce competition in China's online video market, which is pushing up licensing costs for content and making it harder to retain users.

Tudou says it plans to use its share of the IPO proceeds for content, Internet bandwidth and working capital.

Chinese online video company Tudou Holdings intends to raise around 174 million U.S. dollars.


Chinese online video company Tudou Holdings intends to raise
around 174 million U.S. dollars.


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Editor:Li Wanran |Source: CNTV.CN

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